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Economics Past Questions and Answers

Economics Questions

Question 4331:
NECO 2007
The function muv/muz = py/pz represents ____________
SchoolNGR Classroom
  • A Consumer’s average utility level
  • B Diminishing marginal utility
  • C Increasing marginal utility
  • D Marginal theory of price
  • E Utility maximization
View Answer & Explanation
Question 4332:
NECO 2007
The theory of absolute advantage was propounded by ____________
SchoolNGR Classroom
  • A Adam Smith
  • B David Ricardo
  • C Irving Fisher
  • D JB Kynes
  • E Thomas Malthus
View Answer & Explanation
Question 4333:
NECO 2007
The following are the objectives of economic planning EXCEPT
SchoolNGR Classroom
  • A Achieving balanced growth
  • B Diversification of the economy
  • C Creation of more employment opportunities
  • D Equitable allocation of resources
  • E Rapid population growth
View Answer & Explanation
Question 4334:
NECO 2007
The following are bye-products of crude oil EXCEPT
SchoolNGR Classroom
  • A Bitumen
  • B Kerosene
  • C Paraffin wax
  • D Perfume
  • E Petrol
View Answer & Explanation
Question 4335:
NECO 2007
The following are types of monopolies EXCEPT
SchoolNGR Classroom
  • A Cartels
  • B Holding companies
  • C Syndicates
  • D Thrifts
  • E Trusts
View Answer & Explanation

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